Funded by: Fondazione Eni Enrico Mattei
January 2021 / December 2021

Climate Econometrics

The aim of the project is to evaluate the relationships between energy and climate variables, as well as the impacts of these variables (levels, percentage variations, volatilities) on the major economic and financial indicators, using modern and updated econometric models, i.e. univariate and multivariate time series models (e.g. Global VAR and Panel VAR, both in reduced and structural forms), dynamic panel data models, models for qualitative (either binary or multinomial) or limited (either censored or truncated) dependent variables, quantile regressions, discontinuity and diff-in-diff estimators. In particular, the project deals with: identification and definition of the climate change factors that are relevant for the economic analysis; measurement the socio-economic and financial effects of the main climate variables; evaluation of the effects of policies aimed at managing the economic efffetcs of climate change; measurement of the economic and financial risks associated to extreme climate events; study of the statistical properties of the climate variables and their evolution over time; evaluation of the statistical accuracy of extreme climate events forecasts; analysis of the implications of climate change for financial markets and the related financial tools (climate bonds and carbon price).

Main Results and Outputs

Evaluation of the relationships between energy and climate variables, as well as of the impacts of climate variables on major economic and financial variables, using methodological approaches on the frontier of applied econometrics.

Project team
Project leader
Matteo Manera
Econometrics of the Energy Transition - EET Programme Director Read more

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